The WoW launcher was updated this morning, and just now what was behind that curtain was revealed: Character Re-Customization. What does that mean? In short, for a fee of $15, you can rebuild your character, with some restrictions. You can change your gender, face, skin, hair, and name, but not your race or class. You can do hair in-game already via the barbershop, so I imagine the ability to do those via this service is just for convenience. The real draw is the gender and face options.
Don't want to play your Female Undead Warlock anymore because they move funny? It's okay, turn them into a way awesome Male Undead Warlock. Sick of looking at your Male Draenei? Try out something more... pleasing to the eyes. This is a feature people have been asking for since WoW launched, so I'm surprised it took so long for it to happen. If you're taking full advantage of the feature, it's really not a bad deal considering a paid name change is $10. For an extra $15, you can more or less have a new character. Well, sort of.